Cash Converters praised for contributing to high street success

Sutton’s second hand retailer, Cash Converters, has been praised by local parliamentary candidate Paul Scully for positively contributing to the success of the High Street.

Mr Scully, the Conservative parliamentary candidate for Sutton, Cheam and Worcester Park, was invited to the store so staff could provide him with an insight into the business and demonstrate the volume of customers who value Cash Converters’ offering.

He was met by Head of Franchise Operations Nathan Sermon, Operations Director John Murphy, Area Manager Sharon Dixon and Store Manager Wiesiek Nawrocki, who together showed him around the store and answered his questions with regards to the industry in which Cash Converters operates.

Paul Scully, Conservative parliamentary candidate for Sutton, Cheam and Worcester Park, said: “I am focused on improving frontline local services and helping Sutton’s local economy thrive, so it was great to learn about a successful local business such as Cash Converters here on the high street.

“I was interested to learn about the wide range of products on offer to suit different customers, as well as the training which enables employees to take a responsible approach to their business. The staff were friendly and engaging. It is clear that this approach combined with hard work has helped to maintain the success of the business since it first opened.”

Mr Scully was keen to understand the stores’ views on business rates, effect of the rate cap which was put in place on 2nd January this year, how the high street had changed with the recession and where the store sat within the local economy.

He continued: “I was pleased to hear how Cash Converters welcomes regulation of the short-term lending industry and encourages proper controls to protect customers. Particularly the checks carried out before a loan application is approved but also when an item is brought in to be sold, and the stores ongoing relationship with the local police.”

The Cash Converters store serves in excess of 250 people in Sutton each week and employs eight members of staff. It offers a variety of services including short term lending, pawnbroking and second hand retail.

Nathan Sermon, Head of Franchise Operations at Cash Converters, said: “It was great to be able to welcome Mr Scully into Cash Converters and talk to him about the business and it was interesting to hear his thoughts regarding the local high street. It was also good to update him on the FCA’s rate cap regulations and reassure him that Cash Converters operates a responsible lending policy and has been working hard to ensure its business model is fair, stands up to all legislation and has always been fully compliant.”

David Patrick, Chief Executive at Cash Converters, added: “Our business in the UK has been in operation for over 20 years now and with 224 stores across the nation, we are a regular and valued fixture on many high streets in the UK. The team in our Sutton store are a great example of how we operate; focused on building a strong rapport with customers, and are thorough in their checks to ensure goods are genuine and customers are suitable for short-term loans. I am pleased that Paul was so positive about the business and that we were able to provide him with a better understanding of the variety of services that our valued customers have at their disposal.”